DeFi titans Aave and Maker clash over $2M profit-sharing deal – DL News

Published

7 months ago

9 July, 2024

CoinFlix Staff

DeFi titans Aave and Maker clash over $2M profit-sharing deal – DL News

A version of this article appeared in our The decentralized July 9th newsletter. Sign up here.

General manager, Tim here.

Here’s what caught my attention in DeFi recently:

Aave DAO calls out MakerDAO for failing to live up to its end of a $2 million profit-sharing agreement.
Avi Eisenberg is fighting in prison to recover the $14 million he lost on Waves.
Polkadot defends its $37 million investment in influencers.

An “unapproved fork”?

MakerDAO’s lending protocol Spark — a fork of Aave v3 — is breaking an agreement with Aave DAO, says delegate Marc Zeller.

In February 2023, Phoenix Labs, the company behind Spark, propose 10% share of protocol profits over two years as a thank you for using Aave’s code.

The proposal estimated that Spark would pay Aave a total of $2 million.

But Zeller says Spark is not living up to its end of the bargain.

“With creative accounting on MakerDAO, the actual revenue share is much closer to 1%,” he said.

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Zeller wants a “more synergistic approach” between the two DAOs, urging other members of the Aave DAO to weigh in on the issue.

The request for comment gives the DAO the opportunity to declare MakerDAO in violation of the agreement and Spark an “unapproved fork of the Aave codebase.”

The complaint comes as competition between the two DeFi titans intensifies.

Aave surpassed MakerDAO this year to become the third most valuable DeFi project.

Eisenberg against the waves

Cryptocurrency trader Avraham Eisenberg is in prison awaiting sentencing later this month for his $115 million run on DeFi protocol Mango Markets.

But court documents show he is also devoting his time to another matter.

He is trying to recover $14 million, which he accuses Waves creator Sasha Ivanov of stealing from him on the Waves blockchain in 2022.

Before the case can proceed, Eisenberg must serve the letter directly on Ivanov, which he has so far been unable to do.

Eisenberg previously accused Ivanov, accused of organizing a “bait-and-switch scam” and a “global Ponzi scheme.”

A DL News investigation Last year, crypto wallets linked to Ivanov siphoned off $530 million from a lending protocol on Waves.

Ivanov had previously said he acknowledged that investors’ money had been drained, but denies any involvement.

This time, he did not respond to a request for comment.

Polkadot’s Spending Madness

Polkadot is under fire after releasing details of its first-half spending.

The cooperative that governs Polkadot has spent $37 million on marketing initiatives that critics say have done little to improve its image.

That spending includes $5 million spent on influencers — also known as key opinion leaders, or KOLs — to promote blockchain.

The company also spent $180,000 to put its logo on “an entire fleet of private jets based in Europe” for six months.

“All the networks have similar expenses,” said one of the report’s authors, known by the pseudonym Jeeper. DL News.

“These operations take place behind closed doors, and no one can see what they are paying or to whom.”

Polkadot spending increased 140% to nearly $87 million, up from about $27 million in the second half of 2023.

Data of the week

RootData ranks crypto projects based on the number of clicks and searches they receive, reflecting their popularity.

This week, Sentient topped the rankings after rising $85 million co-led by Peter Thiel’s Founders Fund.

Sentient is creating a blockchain protocol where AI developers can market and monetize their models and their data.

Sentient is the hottest crypto project in the last seven days. (Rootdata)

This Week in DeFi Governance

VOTE: Lido to appoint law firm in response to class action

PROPOSAL: Frax may change the token it uses to issue rewards

VOTE: Arbitrum DAO Votes on Treasury Diversification Recommendations

Article of the week

The Wau Holland Foundation, a nonprofit that processes donations on behalf of WikiLeaks, has released a preliminary report on how it spent the 16,593 Ether collected by AssangeDAO in 2022.

1/12 The Wau Holland (WH) Foundation has published a “preliminary transparency report” on the spending of the 16,593 ETH collected by the @AssangeDAO finance #AssangeAccording to the report, 12,161 ETH has been spent so far on legal fees and PR work. pic.twitter.com/tt7iQ0BCp2

— Silke Noa (@silkenoa) July 6, 2024

What we are looking at

EIP 7732 is the first official proposal to enshrine the separation between proposers and builders on Ethereum.
https://t.co/T8Ol7wU79H

Here’s a high-level summary of the PEI and some key takeaways about what it does:

🧵🧶

— Christine Kim (@christine_dkim) July 5, 2024

Ethereum Foundation researchers have just officially proposed a dedicated separation between the proposer and the builder.

If adopted, this split will make Ethereum more reliable, among other improvements.

Got any DeFi tips? Contact us at tim@dlnews.com.

Fuente

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Published

6 months ago

29 July, 2024

CoinFlix Staff

If You Missed BONK and PEPE This Year, This Viral New Crypto Might Be Your Salvation

Bonk and Pepe appear set to net new investors 10x to 100x returns over the next 12 months. However, cryptocurrencies in the DeFi play-to-earn gaming sector could offer even greater returns. As August approaches, Rollblock is emerging as a standout DeFi play-to-earn gem with the potential to 100x-1000x gains in the fourth quarter and beyond.

The project features an innovative revenue sharing model and exceptional accessibility, attracting players and investors. Additionally, Rollblock’s extensive game library of over 150 titles and enhanced sports betting are further driving excitement for the platform. Cryptocurrency analysts are expecting a sudden surge in demand. 800% a push for Rollblock from the beginning of September.

Bonk remains strong despite market fluctuations

While most well-known cryptocurrencies struggled throughout July, Bonk remained strong. As one of the highest-grossing meme cryptocurrencies of 2024, Bonk rose over 24% in July, while most cryptocurrencies experienced negative fluctuations.

Investors looking to add a relatively safe memecoin to their portfolio should consider Bonk. While Bonk is unlikely to generate explosive gains of 250x to 1,000x from here on out, Bonk could still theoretically provide returns in the 20x to 100x range.

Pepe should see a big rise in the next bull run

Alongside Bonk, Pepe has yet to go through a bull run. This means that there are still substantial gains to be made from Pepe over the next 12 months.

Pepe is down 4% in 30 days, but that shouldn’t worry Pepe investors in 2024. Experts believe Pepe’s best days are still ahead, with crypto analysts predicting a 10x to 50x surge in the next election cycle around November.

In the long term, Pepe could surpass the 100x mark for today’s investors. However, Pepe is a memecoin, and one should exercise caution when investing in purely speculative assets that have no utility.

Rollblock’s Unprecedented Hype Potential Could Push It Past 100x Valuation in Q4

Rollblock is a GambleFi Play-to-Earn token that integrates centralized and decentralized gambling on a single platform. By allowing players to earn rewards through active participation and gameplay, the platform creates a compelling incentive structure that appeals to both casual and competitive players.

With its cutting-edge blockchain technology, Rollblock offers top-notch security that keeps bets and transactions on the platform secure. The platform’s lack of KYC mandates appeals to both users who value anonymity and security.

Rollblock’s revenue sharing model, which allocates up to 30% of casino revenue to RBLK token holders, is a major draw for investors. The model involves burning half of the repurchased tokens and distributing the other half to stakers, increasing the token’s value and encouraging long-term investment.

The platform is also constantly evolving thanks to user feedback which has enabled updates such as the upcoming sports betting feature within the platform’s casino. This addition will complement Rollblock’s extensive game library of over 150 titles, ranging from traditional poker to innovative blockchain-based games.

RBLK is expected to emerge as one of the leading DeFi tokens in 2024. With a price of $0.0172 with impressive growth potential and over 140 million tokens sold recently, Rollblock is on track to enter the top 100 cryptocurrencies by Q4, making today a lucrative time to buy RBLK tokens.

Discover the exciting opportunities of the Rollblock (RBLK) presale today!

Website: https://presale.rollblock.io/

Social networks: https://linktr.ee/rollblockcasino

No spam, no lies, only insights. You can unsubscribe at any time.

Fuente

DeFi

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Published

6 months ago

29 July, 2024

CoinFlix Staff

Cryptocurrency sector is experiencing ‘most misjudged moment’ since 2020, says venture capitalist Arthur Cheong

Veteran cryptocurrency investor Arthur Cheong believes the digital asset sector offers long-term holders a golden opportunity.

Cheong, the founder of DeFiance Capital, tell His 171,700 followers on social media platform X indicate that he believes decentralized finance (DeFi) is hugely undervalued.

According to Cheong, DeFi projects are innovating at a rapid pace and leaving traditional financial (TradFi) companies in the dust.

“It’s been a long time since I’ve been this excited about the risk/reward and potential upside of DeFi. This is probably the most misjudged moment since the pre-DeFi summer of 2020, with extremely promising prospects.

I see opportunities not only in OG (original) DeFi, but also in some newer projects that are evolving rapidly and growing at a pace that fintech startups will do anything to match.

The veteran investor also believes that crypto is now here to stay following recent launch from the Ethereum spot market (ETH) exchange-traded funds (ETFs) last week.

“Overall, the floodgates are open and there is no turning back. TradFi asset managers will continue to launch new crypto products because, guess what: there is huge demand for them!”

I expect them to launch actively managed crypto ETFs [in the] coming years. ”

Earlier this month, Cheong laid that it might be a bad strategy for cryptocurrencies to seek mass adoption, believing that digital assets are designed to disrupt several key financial sectors.

“I think we should accept that cryptocurrencies may not be suited for mass adoption like Web2, but rather are optimized for some narrow but very high-impact use cases like stateless global money, cross-border payments, and decentralized finance.

Chasing mass adoption of normies may be chasing the wrong Grail from the start.

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